Objective:To investigate whether rat adipose derived stem cells could be induced into Schwann cell-like cells in vitro. Methods:Rat adipose-derived stem cells (ADSCs) were isolated, cultured, and multi-potential differentiation capacity of rat ADSCs were analyzed. The neurospheres were induced from rat ADSCs with epidermal growth factor (EGF) and basic fibroblast growth factor(bFGF). Surface markers were detected in neurospheres. Retinoic acid, forskolin, platelet-derived growth factor(PDGF) and heregulin were used to induce neurospheres into Schwann cell-like cells. The morphology was observed and surface markers were detected in Schwann cell-like cells. Results:Rat ADSCs were mono-layer fibroblastic cells, and were nestin negative and fibronectin positive and could undergo osteogenic and adipogenic differentiation. Rat ADSCs could be induced into floating neurospheres which were nestin positive and fibronectin negative. Neurospheres could differentiate into Schwann cell-like cells which were spindle like in shape and could express classic Schwann cell markers glial fibrillary acidic protein(GFAP), S100 and p75. Conclusion:Rat ADSCs could differentiate into Schwann cell-like cells in vitro. Schwann cell-like cells may be useful for the treatment of neurological diseases.